CHMI vs ORC: Correlation
Cherry Hill Mortgage Investment Corporation (CHMI) and Orchid Island Capital, Inc. (ORC) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHMI and ORC?
Over the past 3 years, CHMI and ORC moved with a correlation of 0.58, which is moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.58). Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 573.9 %².
ORC is one of the assets that tracks CHMI most closely: it ranks #1 out of the 13 assets we track against CHMI. Neither side won the trailing year by much: +19.1% against +15.7%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CHMI vs ORC: side by side
| CHMI (Cherry Hill Mortgage Investment Corporation) | ORC (Orchid Island Capital, Inc.) | |
|---|---|---|
| 1-year return | +19.1% | +15.7% |
| 5-year return | -27.0% | -33.9% |
| Volatility (ann.) | 38.1% | 26.1% |
| Beta vs S&P 500 | 0.85 | 0.84 |
| Max drawdown (3Y) | -32.7% | -36.6% |
| Market cap | $0.1B | $1.3B |
| P/E (trailing) | 13.9 | 3.8 |
| Dividend yield | 13.65% | 20.69% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHMI | ORC |
|---|---|---|
| 2022 | -17.2% | -44.3% |
| 2023 | -18.9% | -3.1% |
| 2024 | -21.9% | +9.9% |
| 2025 | +14.9% | +12.7% |
| 2026 | +24.3% | +4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHMI and ORC good diversifiers for each other?
Only partially. A correlation of 0.58 means CHMI and ORC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CHMI and ORC?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.36 over the last year and 0.60 over 5 years.
Is ORC a good diversifier for CHMI?
Only partially. A correlation of 0.58 means CHMI and ORC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chmi-vs-orc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chmi-vs-orc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHMI correlations · ORC correlations
